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Shares of LeapFrog Enterprises
Spring Higher in Market Debut

NEW YORK -- Jumping into what continues to be a murky market for IPOs, educational-toy company LeapFrog Enterprises Inc. was a rare bright spot, rising 22% in its debut Thursday.

LeapFrog's initial public offering of stock drew attention because of the entity that owns the company, Knowledge Universe Inc. That is the loose confederation of education-related companies cobbled together by Michael Milken, his brother Lowell and Oracle Corp. head Larry Ellison. Michael Milken is best known for going to jail after the junk-bond...